Franklin Liberty U.S. Low Volatility
ALTAR
Score™
5.1% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
21.2x P/Sales
ratio
2.8x
P/BV
ratio
3.7x Div.
yield
1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Franklin Liberty U.S. Low Volatility ETF is an actively-managed fund which seeks capital appreciation with lower volatility than the Russell 1000 Index.

FUND BASICS
Category US Equities
Fund Sponsor Franklin ETF Trust
Website www.libertyshares.com
Inception date Sep 20, 2016
Assets (mns) $72
Currency USD
Expense ratio 29 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 83
Wgt avg mkt cap (mns) $163,520
Large cap (>$10bn) 98.8%
Mid cap ($2-10bn) 1.2%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 1.6 %
SYNOPSYS INC 1.6 %
MASTERCARD INC-CLASS A 1.5 %
INTUIT INC 1.5 %
VISA INC-CLASS A SHARES 1.5 %
GLOBAL PAYMENTS INC 1.5 %
MICROSOFT CORP 1.5 %
TEXAS INSTRUMENTS INC 1.5 %
ORACLE CORP 1.5 %
INTL BUSINESS MACHINES CORP 1.5 %
Total 15.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.3 %
IRELAND 3.8 %
BRITAIN 1.7 %
CANADA 1.4 %
SWITZERLAND 1.2 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
32.7% 32.7% -- -- 15.6%

Market Correlations
versus... Beta R-squared
S&P500 0.83 93%
MSCI EAFE 0.73 60%
MSCI Emg. Mkts. 0.47 42%

Technical Indicators
Recent close $39.18
30d moving avg. $38.16
Annualized volatility 10.4%
Short interest (ETF) 0.1%
Relative strength (RSI) 74

Liquidity measures
Avg. volume (thou.) 15
Turnover 0.8%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $46,462

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Franklin Liberty U.S. Low Volatility ETF based on the alternatives' overlap in portfolio holdings with FLLV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FLLV Expense: 29 bp ALTAR Score™: 5.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FLLV
Ticker Fund
Name
Overlap1
vs FLLV
(%)
Expense
ratio
(bp)
Savings
vs FLLV
(bp)
ALTAR
Score™
(%)
ALTAR
vs FLLV
(%)
DEF Invesco Defensive Equity 46.5 59 -30 4.7 -0.4
HUSV First Trust Horizon Managed Volatility Domestic 46.4 70 -41 4.7 -0.4
OVOL Invesco Russell 1000 Low Volatility Factor ETF 45.1 19 10 5.4 +0.3
FDLO Fidelity Low Volatility Factor 44.6 29 0 5.1 -0.0
USMV iShares MSCI USA Minimum Volatility 43.0 15 14 5.0 -0.1
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility 41.5 25 4 5.7 +0.6
EQWL Invesco Fundamental Pure Large Core 41.4 25 4 6.0 +0.9
USMC Principal U.S. Mega-Cap Multi-Factor Index 40.5 12 17 5.1 +0.0
OEF iShares S&P 100 39.9 20 9 5.1 +0.0
IWL iShares Russell Top 200 39.6 15 14 5.3 +0.2
MGC Vanguard Mega Cap 300 ETF 39.2 7 22 5.5 +0.4
QUS SPDR MSCI USA Quality Mix 38.6 15 14 5.6 +0.5
SNPE Xtrackers S&P 500 ESG 38.3 11 18 5.4 +0.3
LGLV SPDR Russell 1000 Low Volatility 38.2 12 17 5.0 -0.1
MMTM SPDR S&P1500 Momentum Tilt 37.7 12 17 5.1 -0.0
FDMO Fidelity Momentum Factor 37.4 29 0 3.9 -1.2
LVUS Hartford Multifactor Low Volatility US Equity 37.4 21 8 5.6 +0.5
SPXN ProShares S&P 500 Ex-Financials 37.0 27 2 5.5 +0.4
XLG Invesco S&P Top 50 36.6 20 9 4.8 -0.3
NACP Impact Shares NAACP Minority Empowerment 36.6 75 -46 5.1 +0.0

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Franklin Liberty U.S. Low Volatility
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.9 %
Divided by: Fwd. P/BV 3.3 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.55
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.